Mr. Matt Lewis reports

STEADRIGHT BINDS DEAL FOR HISTORIC COPPER-LEAD-SILVER PROJECT IN MOROCCO

Steadright Critical Minerals Inc. has entered into a mineral claim purchase agreement (signed Jan. 7, 2025) with EMTF, the licence holder of exploration permit No. 3843143, covering a historic copper-lead-silver project in Morocco. Following careful due diligence and continuing field validation, Steadright's board of directors has approved the mineral claim purchase agreement for four million common shares of Steadright Critical Minerals to EMTF and one million common shares to Critical Foundation Metals Inc. There is a four-month hold period on the shares. This share issuance will not result in a change of control for Steadright.

Terms of purchase

Steadright is buying into the asset through Critical Foundation Metals Inc. (CFM), an Ontario private company that found the property and has done their own work on it. Steadright is giving four million common shares for the purchase of 75 per cent of the exploration permit No. 3843143 to EMTF, a Moroccan arm's-length company.

Steadright thanks the management of CFM for their good work and due diligence on behalf of this mineral licence. Steadright and CFM have agreed to place the exploration permit into NSM Capital Sarl, which is a Moroccan company, controlled and managed in Morocco. Steadright and CFM are shareholders in NSM Capital Sarl, with Steadright controlling 75 per cent through an active shareholders agreement registered in Morocco.

Project overview and location advantages

The project lies within a mining-friendly jurisdiction, as Morocco continues to be open for business for responsible mineral development. The licensed area benefits from existing roadway access that enables the cost-effective mobilization of crews and equipment, significantly reducing the need for new road construction. This existing infrastructure, coupled with proximity to services and supportive local communities, provides a practical foundation for efficient exploration.

Geological context

Exploration permit No. 3843143 is underlain by dolomitic formations that have proven receptive to mineralizing fluids over time. These carbonate rocks host a series of veins carrying copper and lead, with silver values also reported.

The system shows characteristics of a carbonate-hosted polymetallic deposit, with evidence of epithermal overprinting in the oxidized zones.

Copper mineralization is visible at surface in the form of azurite and malachite, striking blue and green copper carbonates that confirm enrichment through weathering. Lead mineralization is concentrated in Vein 1, where assays have returned exceptionally high grades, including values up to 46.34 per cent Pb (lead) and 48 g/t (grams per tonne) Ag (silver). Together, these results point to a system with a potential of delivering both high-grade shoots and larger tonnage envelopes.

The structural framework of the dolomite -- fractures, dilation zones and cross-cutting features -- has acted as pathways for mineralizing solutions. Historical artisanal workings confirm that these structures host mineralized shoots, while modern exploration now has the tools to follow them deeper and across strike. This geological setting is consistent with carbonate-hosted polymetallic systems seen elsewhere in Morocco, where copper, lead and silver associations have supported successful mining operations. The success of AYA Gold & Silver's Zgounder mine demonstrates the region's potential and highlights Morocco's supportive environment for responsible mineral development. Steadright's copper-lead-silver project is a potential continuation of these opportunities present, offering both geological promise and practical access to infrastructure.

The veins on the project area exhibit thicknesses ranging from approximately 0.50 to 4.00 metres. According to their orientation, the strike of these vein structures ranges from northeast-southwest to north-northeast-south-southwest. During the most recent field visits, a set of copper and lead indications were identified within the carbonates and along the major regional fault of Tizi n'Test all hosted within the same marly to marly -- sandstone facies. A number of these occurrences have been subject to exploitation (artisanal mining) of varying duration. The steeply-dipping veins exhibit characteristics consistent with known copper-lead-silver veins throughout the mining district.

Exploration targets (conceptual ranges)

The potential quantity and grade of the exploration target are conceptual in nature. There has been insufficient exploration to estimate a mineral resource and it is uncertain if further exploration will result in the estimation of a mineral resource.

Based on the mapping, structural geology, artisanal mining in the area illustrating lateral continuity, the project identifies a potential range for the exploration target indicated herein in Table 1 exploration target. The wide range of tons is based on the initial report interpreting a conservative low tonnage based on the limit of 50 metres down dip and strike length confined to visible surface exposure. The veins have not been constrained at depth or laterally, thereby indicating that the exploration potential can by expanded. The limits used in the high-tonnage scenario extends the strike and down dip by 500 m in each direction, considered a reasonable approach in this environment.

The conceptual exploration target is based on mapped structure lengths from surface workings and recent site investigations by Ste Miniere EMTF Sarl AU, a Moroccan service company specializing in industrial infrastructure and mining development. Documented vein widths up to four m have been mapped with lateral extents limited by surface mapping up to 400 m; down dip for the low tonnage scenario are limited to 50 m while it is reasonable to expect extensions to 500-metre potential vertical depth. Both the lateral extent and down dip are open at this time, but the exploration target is limited to 800 m maximum length and approximately 500 m down dip. Grade ranges utilize estimates based on assays and mapping; there are no known drill intersections on which to rely. The exploration target provides an upper and lower grade limit range based upon an average grade for the veins for copper and lead based on mapping and sampling.

Planned work program

Steadright will advance a phased exploration program intended to refine structural understanding, confirm grade continuity, and test depth potential:

• Structural and geological mapping: high-resolution mapping to constrain vein orientations, kinematics and host lithologies; integration with alteration/mineralization mapping;
• Surface geochemistry: systematic channel sampling and select rock geochemical surveys to vector toward higher-grade zones and support model calibration;
• Geophysical surveys: ground geophysics (that is, EM/resistivity and magnetic methods as appropriate) to delineate conductive/structural corridors, refine vein geometries and identify blind targets;
• Data synthesis: iterative 3-D targeting integrating structural domains, geophysics and geochemistry to inform drill hole placement and metreage. Existing roads enable rapid mobilization and staging of drill rigs, reducing upfront logistics, and accelerating the timeline to first holes;
• Diamond drilling: targeted holes to test vein continuity at depth and along strike, with stepouts designed from structural interpretations and preliminary geochemical vectors.

Why this project, why now

• Supportive jurisdiction: Morocco's regulatory environment is increasingly supportive of responsible mineral development, enabling efficient permitting and community engagement;
• Compelling geology: dolomite-hosted, structurally controlled veins with multiple mineralized corridors and indications of repeated mineralizing events;
• Validation by history: artisanal workings highlight zones of elevated grade and provide early targets for modern methods;
• Scalable potential: wide exploration target ranges reflect both high-grade selective scenarios and larger-scale tonnage possibilities;
• Practical access: existing road infrastructure reduces capital intensity and accelerates field execution.

Next steps and timeline

• Complete structural mapping and geochemical profiling across priority corridors;
• Finalize detailed geophysical work program and mobilize contractors;
• Initiate phase I diamond drilling to test high-priority targets, with follow-up holes guided by results;
• Report continuing results with transparent ranges and qualifiers consistent with National Instrument 43-101.

Matt Lewis, chief executive officer of Steadright, states: "I am very proud of this acquisition and the spirit of cooperation and friendship with which we secured it, working with our Canadian and Moroccan team and friends. We are all big believers in copper as a metal and really look forward to this property's proper exploration."

As previously announced on Sept. 16, 2025, the CEO of Steadright holds an approximate 7.45-per-cent indirect interest in CFM through a 33-per-cent ownership in a private entity that owns approximately 22 per cent of the common shares of CFM. In addition, a consultant of the company is the spouse of a former director of Steadright. This person is the controlling shareholder of CFM and owns a majority of the common shares in CFM.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Robert Palkovits, PGeo, vice-president of exploration for Steadright Critical Minerals, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. The qualified person has reviewed the available data and considers the information to be reasonable for the purposes of this disclosure; however, certain historical data referenced herein could not be fully verified and are treated as historical in nature .

About Steadright Critical Minerals Inc.

Steadright Critical Minerals is a mineral exploration company established in 2019. Steadright has been focused in 2025 on finding exploration projects that can be brought into production within the critical mineral space in the Kingdom of Morocco. Steadright currently has mineral exploration claims known as the RAM project near Port Cartier, Que., within the Cote-Nord region, which is accessible by Route 138, that is located on an Anorthositic complex that is in a highly prospective geological unit and historically been under explored for Ni (nickel), Cu (copper), Co (cobalt) and precious metals.

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